McDonald's Earnings Estimates Cut at Nomura
Shares of McDonald's were slightly lower on an otherwise positive day on Wall Street after Nomura lowered its earnings outlook for the fast-food giant.
Shares of McDonald's (MCD) - Get Report were slightly lower on an otherwise positive day on Wall Street after Nomura lowered its earnings outlook for the fast-food giant due to currency concerns.
Nomura dropped its earnings per share estimates for McDonald's by 3 cents to $5.73 for 2016 and by 8 cents to $6.23 for 2017. Nomura also cut its price target for the Golden Arches by $2 to $137, but still maintained its buy rating on the shares.
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